JPIE vs. THYF

Last updated Jun 4, 2026

JPIE (JPMorgan Income ETF) and THYF (T. Rowe Price U.S. High Yield ETF) are both exchange-traded funds - JPIE is a Multisector Bonds fund actively managed by JPMorgan, while THYF is a High Yield Bonds fund actively managed by T. Rowe Price. Both are actively managed. Over the past 3 years, JPIE returned 6.43%/yr vs 8.57%/yr for THYF. A 0.58 correlation means they provide meaningful diversification when combined. JPIE charges 0.41%/yr vs 0.56%/yr for THYF.

Performance

JPIE vs. THYF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Income ETF (JPIE) and T. Rowe Price U.S. High Yield ETF (THYF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with JPIE having a 1.43% return and THYF slightly higher at 1.50%.

JPIE

• 1D: -0.13%
• 1M: 0.37%
• YTD: 1.43%
• 6M: 1.83%
• 1Y: 5.90%
• 3Y*: 6.43%
• 5Y*: —
• 10Y*: —

THYF

• 1D: -0.35%
• 1M: 0.61%
• YTD: 1.50%
• 6M: 1.90%
• 1Y: 7.02%
• 3Y*: 8.57%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JPIE vs. THYF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JPIE JPMorgan Income ETF	1.43%	7.39%	6.32%	7.07%	3.03%
THYF T. Rowe Price U.S. High Yield ETF	1.50%	7.77%	8.51%	11.32%	1.53%

Correlation

The correlation between JPIE and THYF is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since Oct 27, 2022	0.58

The correlation between JPIE and THYF has been stable across timeframes, ranging from 0.56 to 0.59 - a consistent structural relationship.

Return for Risk

JPIE vs. THYF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JPIE

JPIE Risk / Return Rank: 93
JPIE Sharpe Ratio Rank: 94
JPIE Sortino Ratio Rank: 96
JPIE Omega Ratio Rank: 96
JPIE Calmar Ratio Rank: 88
JPIE Martin Ratio Rank: 93

THYF

THYF Risk / Return Rank: 61
THYF Sharpe Ratio Rank: 59
THYF Sortino Ratio Rank: 66
THYF Omega Ratio Rank: 64
THYF Calmar Ratio Rank: 51
THYF Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JPIE vs. THYF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Income ETF (JPIE) and T. Rowe Price U.S. High Yield ETF (THYF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	JPIE	THYF	Difference
Sharpe ratio: Return per unit of total volatility	3.73	2.01	+1.72
Sortino ratio: Return per unit of downside risk	5.87	3.08	+2.79
Omega ratio: Gain probability vs. loss probability	1.84	1.39	+0.45
Calmar ratio: Return relative to maximum drawdown	5.16	2.51	+2.65
Martin ratio: Return relative to average drawdown	25.53	11.49	+14.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPIE vs. THYF - Sharpe Ratio Comparison

The current JPIE Sharpe Ratio is 3.73, which is higher than the THYF Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of JPIE and THYF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JPIE	THYF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.73	2.01	+1.72
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	1.47	-0.49

Drawdowns

JPIE vs. THYF - Drawdown Comparison

The maximum JPIE drawdown since its inception was -9.96%, which is greater than THYF's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for JPIE and THYF.

Drawdown Indicators

	JPIE	THYF	Difference
Max Drawdown Largest peak-to-trough decline	-9.96%	-5.24%	-4.72%
Max Drawdown (1Y) Largest decline over 1 year	-1.15%	-2.80%	+1.65%
Max Drawdown (3Y) Largest decline over 3 years	-2.40%	-5.07%	+2.67%
Current Drawdown Current decline from peak	-0.13%	-0.35%	+0.22%
Average Drawdown Average peak-to-trough decline	-2.10%	-0.82%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	0.61%	-0.38%

Volatility

JPIE vs. THYF - Volatility Comparison

The current volatility for JPMorgan Income ETF (JPIE) is 0.60%, while T. Rowe Price U.S. High Yield ETF (THYF) has a volatility of 1.12%. This indicates that JPIE experiences smaller price fluctuations and is considered to be less risky than THYF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPIE	THYF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.60%	1.12%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	1.28%	2.72%	-1.44%
Volatility (1Y) Calculated over the trailing 1-year period	1.59%	3.52%	-1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.52%	5.82%	-2.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.52%	5.82%	-2.30%

JPIE vs. THYF - Expense Ratio Comparison

JPIE has a 0.41% expense ratio, which is lower than THYF's 0.56% expense ratio.

Dividends

JPIE vs. THYF - Dividend Comparison

JPIE's dividend yield for the trailing twelve months is around 5.62%, less than THYF's 7.02% yield.

Position	TTM	2025	2024	2023	2022	2021
JPIE JPMorgan Income ETF	5.62%	5.65%	6.11%	5.70%	4.49%	0.63%
THYF T. Rowe Price U.S. High Yield ETF	7.02%	7.17%	7.30%	8.02%	1.50%	0.00%

Frequently Asked Questions

Can I hold both JPIE and THYF in my portfolio?

JPIE and THYF have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPIE or THYF?

THYF has higher volatility (1.12%) compared to JPIE (0.60%). In terms of maximum drawdown, JPIE dropped -9.96% vs THYF's -5.24%.

Which ETF is better, JPIE or THYF?

On 3-year performance, THYF leads with 8.57% vs 6.43% for JPIE. On fees, JPIE is cheaper at 0.41% per year. On volatility, JPIE has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPIE or THYF?

Over the 3-year period, THYF has performed better with a 8.57% return vs 6.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPIE or THYF?

JPIE is cheaper with a 0.41% expense ratio, compared with 0.56% for THYF.

Which ETF pays a higher dividend yield, JPIE or THYF?

THYF has the higher dividend yield at 7.02%, compared with 5.62% for JPIE.

What is the main difference between JPIE and THYF?

JPIE is categorized as Multisector Bonds, while THYF is High Yield Bonds. They also come from different issuers: JPMorgan and T. Rowe Price. Their fees differ too: 0.41% for JPIE and 0.56% for THYF.

Which has better risk-adjusted returns?

JPIE currently has the higher Sharpe Ratio (3.73 vs 2.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.